Staff Bonus Policy
Bonus Pool –
At the conclusion of each financial year, [Company name] will evaluate its financial performance for the year, and allocate a separate funds account to distribute staff bonuses. The bonus amount in this account will differ from year to year, & it totally depends on the productivity of the company. And, there may be no bonus distribution if conditions do not necessitate.
All full-time employees of the [Company name], except lawyers and articling students, who have at least one (1) complete year in continuous employment are entitled for a bonus. An employee not employed by the organization at the time the bonus pool is founded, is not eligible for a bonus.
Award Categories –
There are four different ‘performance bonuses’, in amounts set up by the Company, will be awarded to the four qualified employees who demonstrate, in the organization’s observation, the best overall performance for the year. The remaining part of the bonus pool will be distributed to all other eligible employees equally.
For the purposes of determining the four employees who exhibit the best overall performance annually, the factors mentioned below will be considered:
Self-Improvement in comparison with the preceding year